Haiguo Xintai begins tender for 2022 bonds, seeks consents to add call

By Marisa Wong

Los Angeles, May 28 – Haiguo Xintai Capital Ltd. launched a tender offer to repurchase for cash any and all of its outstanding $500 million 4.3% bonds due 2022 (ISIN: XS2017302527) guaranteed by Beijing Haidian State-Owned Asset Investment Group Co., Ltd.

Haiguo is offering to purchase the bonds at par of $1,000 plus accrued interest.

The offer expires at 11 a.m. ET on June 8.

Concurrently, the issuer is soliciting consents from holders to pass an extraordinary resolution that would allow it to redeem the bonds in whole at par at any time.

A meeting will be held on June 30 for holders to vote on the extraordinary resolution.

The quorum required is two or more persons holding at least 75% of the outstanding principal amount of the bonds. Should the meeting be adjourned, the quorum for the adjourned meeting would be lowered to two or more persons holding at least 25% of the outstanding principal amount.

To pass, the extraordinary resolution requires a majority of at least 75% of the votes cast to be in favor of the proposal.

The settlement date is expected to be no later than July 8.

Haitong International Securities Co. Ltd. (project.prosperity.lm@htisec.com) is the dealer manager, and D.F. King Ltd. (+44 20 7920 9700, +852 3953 7231, hgt@dfkingltd.com, https://sites.dfkingltd.com/hgt) is tender and tabulation agent.

Formerly Beijing Haiguo Xintai Investment Holding Center, Beijing Haidian provides investment management, investment consulting, asset management and other services. The company is based in Beijing.

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